They should have put in a feature where you had a higher chance to get a mogu rune of fate from the troves after you were exalted with your faction, would have given people some incentive to do dailies after being capped/exalted.

Participation on my realm went from 80-90% the first 10-12 days down to 15-20% yesterday.

It's really fast to get exalted, took me less than 1 and a half weeks. There's a mount and tabard at exalted not to mention the gold and charms, I get dailies aren't for everybody but these ones are a piece of cake.

They should have put in a feature where you had a higher chance to get a mogu rune of fate from the troves after you were exalted with your faction, would have given people some incentive to do dailies after being capped/exalted.

Participation on my realm went from 80-90% the first 10-12 days down to 15-20% yesterday.

Word. I hit exalted in around 10 days and only have motivation to go back, farm Rare Mobs until I get a Treasure Trove Key, run the scenario, and then book it off that island. Even the gear is kind of "meh" considering Shado-Pan Assault gear is just around the corner, costs the same amount, and is absurdly better.

When does Nalak become available? I need to kill him for my legendary meta gem

Once the final stage opens up that most servers are all 1-2 days from.

Additionally, to give "participation" to your server, you only have to do 1 daily to get the buff that makes you mount up and ride faster. Anything more is just dailies for VP.

EDIT: Korialstrasz-US: 88% with 20% Horde Participation.

Games are not necessarily "easier" today. You are just a better player.
It takes more now to impress many gamers than it did 2-5 years ago, because so much has already been seen and done.
Many players expect to be wow'd with every release of a beloved franchise.
These are generally NOT the fault of the developers, but the fault of many players over-hyping and/or setting expectations too high.